Consumer spending growth forecast at 13%, paper says

The Ministry of Commerce expects consumer spending to grow steadily in 2014, with a 13 percent increase forecast for the year, Shanghai Securities News reported Friday, citing Vice Minister Fang Aiqing. In 2013, consumer spending contributed to half of the country’s economic growth. Meanwhile, China will speed up the development of the circulation industry including logistics distribution and supply chain operations, and encourage the use of information technology.

Following the unveiling of the eagerly anticipated Outline Development Plan (ODP) for the Guangdong-Hong Kong-Macao Greater Bay Area on Monday, previously unknown news about the ambitious project has started to emerge. For starters, according...

During the 3-day Munich Security Conference over the last weekend, Chinese State Councilor Yang Jiechi said that China, as a founding member of the United Nations and a permanent member on the UN Security...

Singaporeans aged 21 and above will get a one-off bonus of S$100 to S$300 (US$73.8-221.4) this year. But together with the cash handout, the Singapore government has decided to increase the goods and services...

The People’s Bank of China (PBoC) is not yet ready to cut benchmark interest rates to spur the slowing economy, despite cooling inflation and a stronger yuan, which have fanned market expectations of such...

Australia’s treasurer on Friday played down concerns about a ban on Australian coal imports into China’s northern port of Dalian, saying China is not targeting Australia over diplomatic issues, Reuters reports. Treasurer Josh Frydenberg...

China’s blockbuster sci-fi movie The Wandering Earth (流浪地球) was No. 1 at the box office across the mainland during the Lunar New Year period. The film has grossed more than 3 billion yuan (US$446.48...

Helping companies to set guidelines for data governance is one of the topics discussed in a meeting held recently by the newly established Institute of Big Data Governance. Based on my experience, it’s not...

Premier Li Keqiang said China has not and will not change its prudent monetary policy and will not resort to “flood-like” stimulus, Reuters reports. “I reiterate that the prudent monetary policy has not changed...